Wise Plugs Into Malaysia’s PayNet as DuitNow QR Payments Hit 3 Bn
The integration gives the fintech access to more than 3 Mn DuitNow QR touchpoints, deepening its push from cross-border transfers into Malaysia’s domestic payments market.
Wise
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Wise, the cross-border payments company formerly known as TransferWise, has connected directly to Malaysia’s national payments network, giving users access to DuitNow QR and instant ringgit transfers as it expands beyond international money movement into everyday payments.
Its integration with Payments Network Malaysia, or PayNet, allows customers to scan DuitNow QR codes from the Wise app. The feature is being rolled out progressively and will support all DuitNow QR codes nationwide over the coming weeks, the company said.
Customers can also make DuitNow transfers using a recipient’s mobile number or national registration identity card instead of entering bank account details. Wise said the recipient’s identity would be verified before a transfer, reducing the risk of money being sent to the wrong person.
The connection gives Wise direct access to a payment system that is becoming embedded in daily commerce across Malaysia. DuitNow QR transaction volumes doubled to 3 Bn in 2025 from 1.5 Bn a year earlier, according to Bank Negara Malaysia.
PayNet processed 8.44 Bn digital transactions last year, spanning retail payments, transport, peer-to-peer transfers and small businesses. It added 681,250 DuitNow QR acceptance points during the year, including 267,780 operated by micro, small and medium enterprises, taking the nationwide network to more than 3 Mn registered touchpoints.
Malaysia is the ninth market where Wise has connected directly to a domestic payment system and the fifth in Asia Pacific, after Singapore, Australia, the Philippines and Japan.
Such connections allow Wise to route payments through local infrastructure rather than relying on a chain of correspondent banks and other intermediaries. The company said this could lower costs and improve transaction speed over time.
The strategy is becoming increasingly important as Wise seeks to position itself as a broader money management platform rather than solely an international transfer service. Its accounts allow customers to hold more than 40 currencies, move money between countries and spend overseas, while banks and other large companies also use its infrastructure.
Wise processed $69.3 Bn in cross-border transactions in the three months ended June, up 26% from a year earlier. Active customers rose 21% to 11.9 Mn, while net revenue increased 25% to $714 Mn. The company said 77% of its transfers were completed instantly, compared with 70% a year earlier.
Malaysia’s payments market is also becoming more connected to the rest of the region. DuitNow QR is interoperable with payment systems in Singapore, Thailand, Indonesia, China and Cambodia, while an India link is being developed. Cross-border QR transactions reached 29.7 Mn in 2025, 2.5 times the previous year’s volume.
Wise already offers a multi-currency account and card in Malaysia. Direct access to PayNet adds a domestic payment layer, allowing customers to use the same account for local purchases, ringgit transfers and cross-border transactions.
Wise, the cross-border payments company formerly known as TransferWise, has connected directly to Malaysia’s national payments network, giving users access to DuitNow QR and instant ringgit transfers as it expands beyond international money movement into everyday payments.
Its integration with Payments Network Malaysia, or PayNet, allows customers to scan DuitNow QR codes from the Wise app. The feature is being rolled out progressively and will support all DuitNow QR codes nationwide over the coming weeks, the company said.
Customers can also make DuitNow transfers using a recipient’s mobile number or national registration identity card instead of entering bank account details. Wise said the recipient’s identity would be verified before a transfer, reducing the risk of money being sent to the wrong person.
